Royal Caribbean Cruises Ltd (RCL)

Receivables turnover

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Revenue (ttm)	US$ in thousands	12,414,050	11,585,330	10,405,410	9,125,500	7,401,090	5,987,446	3,376,651	1,548,055	808,989	152,491	93,378	136,469	1,919,945	4,403,217	7,502,405	10,106,000	10,634,430	10,449,320	10,180,010	9,820,010
Receivables	US$ in thousands	405,000	360,151	375,357	379,177	531,000	534,414	565,014	506,160	408,067	397,232	345,055	226,740	284,149	165,225	205,921	220,876	305,821	348,991	340,921	374,982
Receivables turnover		30.65	32.17	27.72	24.07	13.94	11.20	5.98	3.06	1.98	0.38	0.27	0.60	6.76	26.65	36.43	45.75	34.77	29.94	29.86	26.19

December 31, 2023 calculation

Receivables turnover = Revenue (ttm) ÷ Receivables
= $12,414,050K ÷ $405,000K
= 30.65

The receivables turnover ratio for Royal Caribbean Group has been showing an increasing trend over the past eight quarters. In Q4 2023, the ratio stood at 34.32, indicating that the company turned over its accounts receivable approximately 34.32 times during the quarter.

The significant increase in the receivables turnover ratio from Q1 2022 to Q4 2023 suggests that the company is collecting its accounts receivable more efficiently. This improvement could be attributed to better credit and collection policies, tighter credit control, or prompt customer payments.

A higher receivables turnover ratio generally signifies that the company is effectively converting its credit sales into cash, indicating strong liquidity and potentially better working capital management. In this case, Royal Caribbean Group's increasing receivables turnover ratio could be a positive indicator of its financial performance and ability to efficiently manage its accounts receivable.